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US Navy Shipbuilder’s Stock Jumps in Sydney as Hanwha Buys Stake

(Bloomberg) -- Shares of Australian shipbuilder Austal Ltd. climbed after a unit of Hanwha Aerospace Co. became a substantial shareholder of the US Navy contractor, as South Korea’s top defense firm attempts to bolster its foothold in America.Most Read from BloombergICE Eyes Massive California Tent Facility Amid Space ConstraintsHow Britain’s Most Bike-Friendly New Town Got BuiltThe Dark Prophet of Car-Clogged CitiesWashington, DC, Region Braces for ‘Devastating’ Cuts from CongressNYC Plans for

U.S. stocks fall, gold hits record amid Middle East tensions

Wall Street turned lower and gold surged to record highs on Tuesday as Israeli airstrikes on Gaza revived geopolitical jitters and the U.S. Federal Reserve gathered to discuss monetary policy amid growing economic uncertainty. A vote by Germany's parliament to overhaul government spending sent European stocks higher, however, and German shares to near record highs. Even so, all three major U.S. stock indexes were lower in early trading, with weakness in tech-related megacap stocks dragging the tech-laden Nasdaq down the most.